Paul Romer talks about RULES - free market, capitalism , market driven economy, globalisation, special zones, though he doesn’t use all of these words explicitly in his talk.
He starts by analysing how almost everyone seems to have a mobile phone but people don't have access to electricity - a comparison which fits in India's scenario too.
Regulation is important, but years and years of over regulation have left us with no electricity, no drinking water etc. Telecom sector was de-regulated in late 90s and the sector flourished, I believe its high time water,insurance, electricity,retail, rail , infra like airports should be de-regulated too.Government has really stifled sectors like electricity, rail by not allowing private participation at all.
Then he talks about ‘one nation partnering other nation’ . India will not do this, probably because of the colonial hangover that we are still carrying. I do get shivers where he gives example of Cuba going and asking Canada to administer a part of their land.I ask myself - How much is too much?Should Globalisation have a limit?These are unanswered questions.
He proceeds to propose "Charter cities" which sounds good though I don’t agree with the Naive belief that cities are safe from crime.I also like the fact that the example of HongKong and China was used.Now, China did get some of its motivation from HongKong. India can copy the western model too – but the right wing dudes won’t let that happen – why? Just because its “western” apparently. I hate these guys, enough is enough, Indians deserve basic amenities if not luxury – even if it comes from a “western” idea. I don’t see the west shunning the idea of YOGA and CURRY saying its “Indian”. Why are so many of us still so xenophobic?Arghhhh
